Boeing is said to have given shareholders misleading information about the crashed 737 Max machines. An appeals court reinstates a 2019 shareholder lawsuit.
Boeing 737 Max
Two Boeing 737 Max crashes killed 346 people within five months. (Image: Reuters) Washington An American appeals court on Friday dismissed a 2019 shareholder lawsuit against aircraft manufacturer Boeing Co re-admitted. Two crashes of the Boeing 737 Max within five months, 346 people died.The Seafarers Pension Plan, the seafarers’ pension scheme in several countries, had filed a lawsuit against the company’s executives and directors for providing false and misleading information about the 737 Max in shareholder proxy statements. A US district court judge had previously dismissed the lawsuit. He relied on a Boeing charter that gives the company the right to insist that lawsuits be filed against Boeing in a Delaware court. The Court of Appeals has now reversed that decision. The 737 Max crisis triggered by the crashes cost Boeing more than $20 billion and resulted in a 20-month grounding. The 737 MAX only returned to service Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here
after the company made significant software and training improvements.
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In November, current and former Boeing board members settled a $237.5 million settlement in a separate lawsuit with shareholders. In January 2021, Boeing agreed to a $2.5 billion deal with the US Department of Justice to stay prosecutions related to the 737 MAX crashes.More: Boeing receives order for 30 more 737 Max jets rtr
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